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Wednesday, February 21, 2024

ONTIER and Trascendent launch the first Impact Observatory in Spain

Transcendent, a strategic sustainability and impact consultancy, together with the law firm Ontier, have launched the Impact Observatory, a meeting place where companies can learn about new initiatives in the areas of impact measurement and management, sustainable financing and regulation

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This initiative comes at a key moment when, both in Europe and in the US, regulatory requirements in terms of sustainability are increasing. Companies, driven by this regulation and the opportunity it represents for their reputation, together with the possibilities of more attractive financing, are seeking to balance their economic profit with the social and environmental impact they generate in a society that is increasingly aware of environmental effects, such as the risks of climate change, or social effects, such as the talent, training and employability policies of companies.

The Observatory aims to be a place where companies committed to and responsible for generating a positive impact can find out about and access the latest trends, opportunities, and challenges in this area. An example of this is the Impact Weighted Accounts Initiative, a Harvard University project that monetises the impact generated by business activity, both the cost generated by its negative externalities, for example, its carbon footprint, and the income generated by its positive externalities, or its policy of opportunity, talent and gender diversity for its employees.

On this path, it is necessary to address a deep and transversal transformation, to define what impact (materiality of the impact), how it will be measured (methodology and KPIs) and the management of this impact to improve it. “You can’t manage what you don’t measure,” explains María Herrero, president of the Impact Observatory and partner at Transcendent.

However, “when we look at the company with a new approach based on impact, previously unknown and unnoticed opportunities come to light representing a huge competitive advantage for the company and needing to be enhanced and made profitable, and on the other hand, we also glimpse risks that, without knowing it, can jeopardise the value of the company and, even worse, its image and reputation,” adds Herrero.

“The role of regulation around ESG issues can be perceived as a higher cost if we only talk about reporting and compliance. However, the regulation also drives the opportunity for financing based on social and good governance criteria, which is more attractive,” says Pedro Rodero, vice president of the Impact Observatory and executive chairman of ONTIER Spain.

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